The boss of the crisis Opel-Mother Stellantis, Carlos Tavares (66), has resigned. The board of directors accepted a corresponding offer from the manager to withdraw immediately, said the fourth-largest company in terms of sales Car manufacturer the world on Sunday evening, confirming information from the Reuters news agency.
A new boss should now be found in the first half of 2025, it said. Until then, a management committee will be formed under board chairman John Elkann (48).
His recently lowered business forecast for the current year confirmed the Italian-French company. In addition to Opel, Stellantis also includes the brands Peugeot, Citroën, Fiat, Chrysler, Jeep and Ram.
Stellantis had declared in mid-October that Tavares will retire when his contract expires in early 2026. The manager has faced criticism from unions, car dealers and shareholders in recent months. At the end of October, Stellantis said that due to weak demand, sales in the third quarter had fallen by around 27 percent to 33 billion euros within a year.
The group had previously had to reduce its profit forecast and to do so had to store full inventories USA and blamed on weaker global demand. It was said that competition had intensified as a result of both growing supply and increasing Chinese competition. Other car manufacturers are also struggling with the problems.
Tavares had prescribed a strict savings program for Stellantis, which was supposed to raise the company’s returns to double-digit percentages.